Using Blockchain to Protect Artists and Manage Intellectual Property Law
GoChain offers the use of blockchain technology as a tool to manage and store Intellectual Property rights on a decentralized ledger.
Intellectual property (“IP”) refers to creations of the mind. This includes everything under that umbrella: inventions, literary and artistic works, music licensing, patents, copyright, trademarks. Also any symbols, names and images used in commerce. Whether you write a book or music, design a game, or any other intangible media creation you should be guaranteed your IP rights as an author, however the current system doesn’t really work properly in practice. IP law is not currently efficient, you’re probably aware of how easy it is for your content to be stolen online. If chasing down thieves isn’t hard enough, enforcing your legal rights as the owner of the content depends on demonstrating that you are the owner.
If you do not protect your intellectual property proactively and early, you might have to protect it defensively later.
Blockchain is an incorruptible digital ledger that facilitates the process of recording transactions and tracking assets in a business network. Assets can be tangible like cash, houses, and cars or intangible like intellectual property, such as patents, copyrights, or even enterprise branding. GoChain offers the use of blockchain technology as a tool to manage and store copyrights on a decentralized ledger and easily track transactions associated with any digital content from music to pieces of art. GoChain offers trust, accountability and transparency allowing a an immediate revenue stream and enabling a direct relationship between creators and consumers.
Proving Ownership Rights
As an artist, you can understand how important it is to retain ownership rights and credit as it is frustrating to put in effort and time on your work only to have people accessing it freely without compensation. The internet has made downloading books to music, so easy but at the cost of the creator. A major concern with the current model is that IP rights that cannot be registered. You see, if it cannot be registered, proving in court its infringement becomes hard without proof. Blockchain ledgers are time-stamped records that cannot be altered making it the perfect place to store proof of ownership. Blockchain provides a solution for proving and authenticating the time of creation and the identity of the original creator. This eliminates doubts and makes it easier for creators to legally enforce their rights when infringement occurs.
IP Registries
Currently, once an author uploads his or her work to the internet, it becomes extremely difficult to maintain control of that work, and to monitor who is using it for what purpose. In many countries like the UK, creators do not have the ability to register copyright. This makes ownership hard to prove. It can be also be difficult for creators to know who is using or profiting from their work, and equally difficult for third parties who’d like to seek a license to know who to contact. The lack of proper registration makes it difficult to stop infringements or to properly monetize on works.
Using the GoChain blockchain as an IP registry can solve IP law issues by providing a digital certificate of creator authenticity. Improving transparency throughout the entire chain of ownership and licensing process can help third parties identify the original author and avoid infringements and other IP law issues. GoChains Blockchain solution can reduce the verification and approval time rate for patents and other registries and provide the market quick access to innovations.
“ Blockchain is the perfect solution for providing proof of creation. It’s a permanent immutable record. Meaning, once the record is there, it’s there forever and will never change.” — Nathan Lands, CEO of Agrello
Smart Contracts
Since the current method for IP registries and proving ownership is not yet streamlined it is very difficult for artists to properly monetize their work. While blockchain can be used to establish ownership and reduce IP infringement, Smart contracts can play a much more active role in enforcing licensing agreements. Smart contracts allow creators to dictate the terms of their own licensing agreements and ensure that they are being carried enforced. Smart contracts provides creators the ability to license content directly to end users, this eliminates the need for middlemen and reduces issues of infringement.
Smart contracts offered on the GoChain platform eliminate the need for intermediaries. Smart contracts will offer you, as an artist, an avenue of dictating terms for your work directly with your customers. As an artist, you will be able to manage your sales through smart contract
Use Case
Choon is currently one of the leading blockchain-based music streaming platforms that uses smart contracts with the primary purpose to solve the biggest IP issues independent artists deal with. Choon is a musical content ecosystem for artists and music consumers. For the most part, musicians can upload their music and get paid for streams. So unlike traditional music streaming platforms out there, this streaming service makes it possible for artists to earn what they deserve. Choon gives its registered artists 80% of the proceeds their streamed music creates. On top of les fees artists receive their payments quickly and efficiently.
Want to protect your IP ownership and licensing rights?
Artists and creators are demanding more protection of their intellectual property and proper compensation for their work. GoChain is leading the way with blockchain to provide more security in IP law .
We know that when implemented correctly, blockchain can help artists as well as enterprises improve efficiency, cut costs, and increase revenue by creating new products and services. However many enterprises are struggling to implement the technology correctly simply because they don’t fully understand it. Let us help you.
GoChain’s core team of expert engineers and business professionals are dedicated to working with enterprise companies and mid-level businesses to build custom blockchain solutions.
Whether your business needs general consulting, professional education, or project architecture and implementation, GoChain will be your partner and help you and your team reach all of your milestones. Let our team of experienced blockchain professionals and consultants meet with you to discuss your desired business outcomes.
Contact our team of experts today at sales@gochain.io
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